Gin and spirits supplier British Honey Company (LON: BHC) has plenty of spare capacity in its distillery and production of alcohol sanitisers will use up some of that capacity in the short-term. Longer-term, the strategy is to buy other spirits brands.
There is a shortage of sanitisers due to the coronavirus and HMRC has given permission for British Honey to produce denatured alcohol. It should be able to start selling products later this week.
The sanitisers are made with 70% alcohol and extracts of honey and green tea.
British Honey joined Aquis Stock Exchange at the beginning of this week and raised £4.25m (£3.88m after expenses) at 110p a share. Advanced assurance of eligibility for the Enterprise Investment Scheme has been obtained. The initial market capitalisation was £10m....